Price of bitcoin has fallen below $3,000 today and recorded the lowest price for the day to $2,951 since the cryptocurrency crossed the highest recorded figures of $5,000.
Despite the massive fall in the price of bitcoin, the cryptocurrency recorded trade price was $3,322.74. Today’s market opened at the price $3,226.41 according to the coindesk, Bitcoin Price Index. The value of cryptocurrency increased by $309.72 noted Friday’s highest price sets at $3,536.13.
The reports of the Chinese Bitcoin exchange suspending operations are the reason behind the price breakdown. The investors are still struggling but hoping for the best result of price rise soon to come.
The cryptocurrencies such as bitcoin and Ethereum had made their position high in the market till now. In comparison to S7P 500, the price of bitcoin remained stronger after the fall in price within a week recorded.